The automotive industry continues to experience problems as a result of the deteriorating economic climate, necessitating Honda Atlas Pakistan Cars Limited (HACPL) to delay its production shutdown by an additional 15 days.
Honda Atlas Extends Shutdown
The company stated in a letter to the Pakistan Stock Exchange (PSX) that the government’s stringent measures, such as restricting the opening of LCs for the import of CKD kits and raw materials and stopping foreign payments, had severely disrupted the company’s supply chain.
“As a result, the Company is not able to continue with its production and has ultimately continued to shut down its plant from April 1, 2023 to April 15, 2023,” it continued.
A duplicate of the document is provided below:
Honda Atlas Cars Pakistan Limited (HACPL) sent out a letter earlier this month notifying customers of a production halt from March 9, 2023, to March 31, 2023.
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